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In an announcement which marks a noteworthy triumph for Nissan, the automaker disclosed that its NV200 has received the official approval as New York's Taxi of Tomorrow; thanks to a majority vote by the New York City Taxi and Limousine Commission (TLC).

The approval of the Nissan NV200 as Taxi of Tomorrow - which comes along with rules that mandate the replacement of retiring taxicabs with the model - follows a comprehensive review and selection process that was highly competitive as well as painstaking.

With New York's new standard for vehicles - scheduled to take effect from October next year - requiring that the taxicabs should boast notably improved fuel efficiency, Nissan revealed that the NV200 will be powered by a 2.0L 4-cylinder engine; and will come with a 150,000 mile powertrain warranty.

The Nissan NV200 Taxi of Tomorrow - to be fabricated at the Nissan production plant in Cuernavaca, Mexico - has been designed to bring about a reduction in carbon emissions and an improvement in fuel efficiency. The vehicle is being extensively road tested by Nissan at test centers and New York streets.

Revealing that the Nissan NV200 will be priced at $29,700 with all standard features of a taxicab, and will hit the roads in 2013, Joe Castelli - VP of commercial vehicles and fleet at Nissan North America Inc - said that the automaker is "appreciative of the opportunity to provide the City of New York with the next-generation of its iconic yellow taxi."